SPRING Singapore Innovation and Capability Voucher (ICV)

The Singapore Innovation and Capability Voucher (ICV), an initiative by SPRING Singapore, aims to encourage more Singapore SMEs to enhance their capabilities by upgrading in four areas – innovation, productivity, human resources and financial management.

The ICV is a S$5000 voucher offered to help SMEs pay for services in these areas and has replaced the Innovation Voucher Scheme since 1 June 2012.

A voucher can be used to redeem one supported service only and each project, which should not exceed six months, must be completed before a new application will be considered. A Singapore SME may apply for 2 vouchers per area.

All SMEs which meet the criteria below are welcome to apply:

Located and registered in Singapore

At least 30% local shareholding

Group annual sales of not more than S$100 million, or group employment size of not more than 200 employees

All applications must be submitted through the ICV Online Portal and applicants will know of their results within two working days.